PSX sees early gains fade as KSE-100 index dips by over 800 points

KARACHI: On the third trading day, the Pakistan Stock Exchange (PSX) opened with gains as the benchmark KSE-100 Index showed a rise of 539.53 points, reaching 112,569.89 around 9:35 AM, with a volume of 4,492,331 shares.

However, the PSX could not maintain its gains and entered negative territory within minutes, falling by 46.53 points to 111,983.83 around 9:46 AM, with the volume increasing to 19,704,046 shares.

By 10:01 AM, the PSX extended its losses, dropping by 326.63 points to 111,703.73.

During this time, among the KSE-100 Index companies, those trading in the red (in percentage terms) included:

First Habib Modaraba (FHAM), down by 3.28 per cent or Rs0.66 to Rs19.49

Punjab Oil Mills Limited (POML), down by 3.20 per cent or Rs4.93 to Rs149

Pakistan Services Limited (PSEL), down by 3.15 per cent or Rs29.41 to Rs902.68

Fauji Fertilizer Company Limited (FFC), down by 2.49 per cent or Rs9.92 to Rs388.75

Kohinoor Spinning Mills Limited (KOSM), down by 1.90 per cent or Rs0.12 to Rs6.18

On the other hand, companies showing gains and trading in the green included:

EFU General Insurance Limited (EFUG), up by 5.06 per cent or Rs6.02 to Rs125

K-Electric Limited (KEL), up by 4.01 per cent or Rs0.18 to Rs4.67

Service Industries Limited (SRVI), up by 2.84 per cent or Rs39.78 to Rs1,439.99

Thal Limited (THALL), up by 2.85 per cent or Rs11.36 to Rs409.99

Pak-Gulf Leasing Company Limited (PGLC), up by 2.63 per cent or Rs0.50 to Rs19.50

Around 10:50 AM, the PSX continued to witness losses, dipping by 606.56 points to 111,423.80, with the volume at 49,973,075 shares.

The biggest dip the PSX experienced occurred at 14:56 when the benchmark KSE-100 index dropped by 873.18 points to 111,157.18, with a trading volume of 156,241,877. However, by the end of the trading day, the index partially recovered and settled at 111,487.36, down 543 points, as the PSX portal displayed the market status as “Closed”.

The KSE-100 Index had ended the previous trading session at 112,030.36, after dropping by 1.31 per cent or 1,489.96 points.

On Tuesday, the index traded within a range of 2,209.76 points, showing an intraday high of 113,644.71 (+124.39) and a low of 111,434.95 (-2,085.37).

Looking at the one-year change, the stock market is up by 78.47 per cent, while the year-to-date (YTD) change shows the KSE-100 Index down by 2.69 per cent. The 52-week range for the PSX has been between 59,191.86 and 118,735.10.

Read next: Oil prices flat as market awaits US tariff decision on imports